Paypal EURO and STERLING balance - transfer to UK based currency accounts

[b-c]

Hi,

I manage my account and receive payments in EUR and GBP balances.

I also use a UK based bank account with STERLING currency account and EURO currency account.

My STERLING account is linked to my GBP balance in Paypal, so I can withdraw the GBP balance, but what about EURO ??

It has been said in this post : 

https://www.paypal-community.com/t5/Fees/Paying-money-to-a-Euro-account/td-p/253368

that I would be able to link my EURO currency account in a UK based bank to my EURO balance in Paypal,

so I would be able to withdraw the EUR balance directly to the EUR currency account.

However how to link these accounts and verify the euro currency account if I can only receive the verification 

deposits in GBP ??

As Paypal says the 2 small verification deposits are only sent in GBP, so if I link my EUR account, these deposits

will most probably fail, correct ?? 

Or is there any other way to do this ?

thanks

[Aklos]

Hi Nags,

i have your same problem but i want to exchange GBP in Eur,

perhaps we can cooperate 🙂 What do you think?
Answer below, since i can't send PM on this forum 😞

[nags]

Hi Aklos,

That would be great, but obviously there are trust issues.

Any suggestions?

[Aklos]

hi Nags, could you send me a private email to 

p i e r l u c a 8 5 @ g m a i l . c o m ?

obviously without spaces 🙂

Regards

[leon_funnell]

So, its 2017 now, and I just spoke to Paypal about this issue. 

Background:

I am setting up an Ebay shop and wish to recieve payment in multiple currencies and then withdraw them and keep them in bank accounts in the same currency.  To this end, I have set up multiple UK-based bank accounts in NZD, CHF, USD and EUR, and had hoped to add others.

I have created a Paypal business accounts and added the same currencies as above - NZD, CHF, USD and EUR.  I then set about adding my HSBC UK currency accounts.  So, when I add these UK-domiciled accounts, they all get added as GBP accounts.  Paypal on the phone say "we are only authorised to deposit and withdraw funds in GBP for Paypal accounts registered in the UK".  Basically it doesnt matter if my bank account is registered in the UK or abroad, because Paypal dont support ANY non-sterling transcations because my Paypal account is registered in the UK.  I am operating an international business here!!!!

Aparrently they are "looking into" offering the ability to support multi-currency bank accounts, but gave no timescales for this. 

The only thing the guy could come up with is that I set up multiple Paypal accounts, one in each country for the currency I wish to use.  I asked "am I allowed to set up offshore Paypal accounts even if I dont live in these countries" and aparrently yes.  Finally I asked "how do I then manage multiple paypal accounts from Ebay - ie if someone wants to pay me in a different currency, can they select another paypal account?".  ANswer - no - you will need to create a unique listing for each currency. 

Man this is boring....

I have asked for this to be escalated to someone who can make a difference in Paypal, as currently the lack of non-sterling bank account support is a real nightmare.  THis has cost me weeks in wasted effort dealing with banks to set up currency accounts that I cant actually use!!!

Paypal - sort your life out...

BTW - if anyone from Paypal is listening who can actually make a difference, feel free to contact me.  I work as an IT architect in a bank and I spend my life translating requirements into deliverables.  Happy to help...

[PayPal_Intars]

Appreciate the feedback @leon_funnell and I'll certainly pass it to the relevant team. We are constantly working to expand and improve our services for our customers. -Intars

[Hatethesepeople]

It’s now 2018 and they still haven’t got their **bleep** together. Didn’t realise they were so provincial and transferred euros from PayPal to a EURO bank account in Uk. Lost nearly £400 because of their system. Customer service was a joke. ‘Computer say no, we are just following the banks requirements’ Stuff and nonesense, just stop being such a greedy backwards company.